Revealed: West Ham naming rights twist as news on £20m+ deal confirmed
West Ham are unlikely to secure a £20million-a-year naming rights deal for the London Stadium as Olympic Park chief Lym Garner has suggested they can, Football Insider has learned.
Garner – CEO of the taxpayer-funded London Legacy Development Corporation (LLDC), the body responsible for the Olympic Park – recently revealed she is optimistic that a London Stadium branding deal will be finalised before 2024.
It has been reported elsewhere that LLDC is due to announce losses of £31.1m for the 12 months up to 31 March, up from £24.8m the previous financial year.
But Garner is confident that a naming rights deal could help reduce the annual deficit to around £8-10m, suggesting that she believes a £20m-plus deal is in reach.
But analysts consulted by this site insist that is unrealistic, especially given that West Ham are entitled to 50 per cent of naming rights proceeds after the first £4m, which goes to LLDC.
One industry insider who has worked on some of the UK’s most high-profile naming rights deals claims that a £10-12m-a-year partnership is more likely
It is understood that LLDC want the deal to align with the overall sponsorship strategy at the Olympic Park and that discussions, as has previously been reported by Football Insider, are taking place without the Irons’ involvement.
The Hammers, who pay around £3.5m per year in rent at the London Stadium, are also believed to be open to the possibility of buying the facility from LLDC.
How realistic that is in the near future given the uncertainty around the club’s Premier League status and ownership structure remains to be seen.
In other news, West Ham ready to submit biggest Victor Gyokeres offer.